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Financial Freedom Act of 2022
3/13/2024, 1:56 AM
Congressional Summary of S 4147
Financial Freedom Act of 2022
This bill prohibits the Department of Labor from limiting the type or range of investments that fiduciaries may offer participants and beneficiaries in certain employer-sponsored retirement plans. The bill applies to certain defined contribution plans that permit participants or beneficiaries to exercise control over the assets in the account, such as a 401(k) plan that allows participants or beneficiaries to select additional investment options through a self-directed brokerage window.
Read the Full Bill
Current Status of Bill S 4147
Bill S 4147 is currently in the status of Bill Introduced since May 5, 2022. Bill S 4147 was introduced during Congress 117 and was introduced to the Senate on May 5, 2022. Bill S 4147's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of May 5, 2022
Bipartisan Support of Bill S 4147
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
1Democrat Cosponsors
0Republican Cosponsors
1Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 4147
Primary Policy Focus
Labor and EmploymentAlternate Title(s) of Bill S 4147
Financial Freedom Act of 2022
Financial Freedom Act of 2022
A bill to prohibit the Secretary of Labor from constraining the range or type of investments that may be offered to participants and beneficiaries of individual retirement accounts who exercise control over the assets in such accounts.
Comments
Sponsors and Cosponsors of S 4147
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